The sale of the "historic landmark" includes five parcels, 747-759 Burden Ave., as well as all furniture and equipment. Under the new reassessment, the properties alone is worth $362,500, a drastic increase over their former valuation at $95,000.

The reassessment was one of several factors current owner, Marty "Butch" Burke, cited when he announced the bar and restaurant would be closing last month. "We were surviving, but the property tax kind of pushed me over the edge," said Burke, during an interview in mid-June.